Admiralty Arch, the 100-year-old London landmark built in memory of Queen Victoria, is to be transformed into a luxury hotel after the government leased it out for £60 million, the Cabinet Office said Friday.
The ceremonial gateway between the Mall and Trafalgar Square will become a five-star, 100-bedroom hotel with ballroom and spa if planning permission is granted to developers Prime Investors Capital (PIC), who have leased the arch.
The area around the arch half a mile from Buckingham Palace was the finishing point for this year’s Olympic marathon and scene of celebrations for Queen Elizabeth II’s diamond jubilee, but the building itself is not currently being used, the government said.
Officials refused to say whether the royal family had expressed a view on the conversion.
“I’m delighted that the leasing of Admiralty Arch will not only see this landmark building restored to its former glory and opened to the public — but will raise £60 million for the taxpayer,” said Cabinet Office minister Francis Maude in a statement.
“Rather than letting it fall into disrepair we are taking action. British specialists will work closely with English Heritage and Westminster Council to bring the arch back to life.”
The restoration will reinstate some lost features using drawings by architect Sir Aston Webb dating from 1910.
The Grade 1-listed arch was commissioned by King Edward VII in memory of his mother Queen Victoria, who reigned for 63 years. It was completed in 1912.
The building originally housed offices and residences for the Sea Lords of the Admiralty but is currently costing £900,000 a year to maintain and has never been opened to the public.
PIC, which brings together 20 British companies, was chosen in a competitive bidding process and has a 99-year lease.
London's Admiralty Arch to become luxury hotel
